For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Mark Busby on Sydney (02) 9268 4533.

SUMMARY COMMENTARY

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)

TREND ESTIMATES

The trend estimate for total mineral exploration expenditure fell $20.4m (3.1%) to $635.4m in the December quarter 2008. The current estimate is 6.3% higher than the December quarter 2007 estimate.

Mineral Exploration, Seasonally adjusted and trend series

The largest contributions to the fall this quarter were in Queensland (down $7.6m or 7.2%) and South Australia (down $6.5m or 8.6%). The largest rise was in Northern Territory (up $1.0m or 2.7%).

The trend estimate for metres drilled fell 3.2% this quarter. The current estimate is 3.4% lower than the December quarter estimate for last year.

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)

EXPLORATION EXPENDITURE

The seasonally adjusted estimate of mineral exploration expenditure fell $46.0m (7.0%) to $613.4m in the December quarter 2008. The largest falls this quarter were in Queensland (down $18.0m or 16.7%) and Western Australia (down $15.9m or 4.4%).

In original terms, mineral exploration expenditure fell $39.2m (5.7%). Western Australia had the largest fall of $19.8m (5.2%), followed by Queensland which fell $14.6m (13.3%). The largest rise was in Northern Territory (up $4.9m or 12.1%).

In original terms, exploration on areas of new deposits fell $32.9m (12.2%), while expenditure on areas of existing deposits fell $6.3m (1.5%).

In original terms, the largest fall by minerals sought came from expenditure on copper exploration (down $23.5m or 29.7%), with the largest fall occurring in Queensland. The next largest fall came from expenditure on nickel/cobalt exploration (down $16.5m or 17.4%). The largest rise in exploration expenditure by minerals sought this quarter was for iron ore (up $20.5m or 12.7%).

MINERAL EXPLORATION, Original series

MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)

METRES DRILLED

In seasonally adjusted terms, total metres drilled fell 6.4% in the December quarter 2008. In original terms total metres drilled fell 17.3%. Drilling in areas of new deposits fell 25.9% and drilling in areas of existing deposits fell 11.7%.

Metres Drilled, Original series

PETROLEUM EXPLORATION

OVERVIEW

Expenditure on petroleum exploration for the December quarter 2008 rose $232.1m (29.7%) to $1013.4m.

Expenditure on exploration on production leases rose $35.7m (17.9%), while exploration on all other areas rose $196.4m (33.7%) this quarter.